Option.fm Review

1 • 11 REVIEWS
Out of business
Updated: Sep 29, 2022
Website is down.  One less scam site to worry about.


In this thread, an FPA member presented an email from Option.FM with a Banc de Binary signature.  When the member questioned both companies about this, he reports that neither replied.  The FPA considers Banc de Binary to be a scam.  Based on the FPA's policy that a Scam label against a company applies to all related companies, the FPA now considers Option.fm to be a scam.


1 • 11 REVIEWS

Recent User Reviews of Option.fm

Uk, United Kingdom,
Dec 1, 2016,
Registered user

Lost money first company who make sure at the end you don't take any money with you. First they nice but everything is going to lost money
h matt
South Africa,
Nov 10, 2016,
Registered user

option fm -death trap for taking your life savings.

they've not regulated, if they say they are insist on recent liscence. they make you deposit, then lose all your funds at once, Dean West, Tom callahan you are heartless ass holes, one day a victim of your company and lies will take her life and I hope you guys rot in jail for your cruel ways of preying on the innocent trying to make a better life,
Melbourne, Australia,
Oct 16, 2016,
Registered user

I never actually traded and got my deposit refunded in full

I deposited $250AUD with OptionFM then read bad stuff about them so got cold feet and never actually traded. They rang me continually putting the pressure on me to put more money in and let them trade for me, but I didn't budge, and applied to withdraw my deposit and it was duly refunded in full.
After reading all the reviews I wouldn't touch them with a barge pole!
Oct 16, 2016,
Registered user

Do not use this company. They are an incredibly cunning and sly organisation, that play on your emotions, exhort as much information as they can about you and your circumstances and then take you and any of your money to the cleaners. As you are are placing trades and wonder where your money has gone you are told you are slow, stupid and need to be very careful next time or you will lose even more. So mentally you are being primed to take responsibility for your own losses. My biggest regret is that I didn't read this forum before I started. DO NOT HAVE ANYTHING TO DO WITH THEM.
Taylor, Singapore,
Aug 30, 2016,

Withdrawing funds Option FM

Has anyone been able to withdraw their funds ? I have invested 22k and want to take it out but not sure I have a chance. Thanks
Forex Peace Army
Review moderation team note
With any broker, the only way to be 100% sure whether you can withdraw your funds or not is to try to withdraw.  Please try and leave a followup about what happens.

If you can't withdraw, please also open a thread in the Scam Alerts folder of the FPA's forums.
Woody Point Queensland, Australia,
Aug 18, 2016,
Registered user


Hallo There, My name is Gaylene, and i have been scammed by option fm. I thought I was doing the right thing by trading with Christopher Jones my account manager, but boy was I wrong. I have lost $22,000.00AUD have no money coming in have 2 grandkids to feed, and I only make 50.00 a week just to get this money for food for them. We are presently living in a 1 bedroom flat and I have to come up with $5000.00 in 2 weeks time for our rent and other bills or we will be living in my car. I am so stressed out and have great fear for my grand kids. I begged and begged him to let me do a withdrawal but he said we will do one more trade and then he would do the withdrawal. I lost all my money, rang other people in that office to help me but it was no use. These scum bags need to be locked up, all they worry about is their own pockets. Can someone please help me to get my money back, any sort of help will be much appreciated. PLEASE PLEASE HELP US, or we will be HOMELESS.
, Malaysia,
Aug 1, 2016,

Definitely a scam company. They will sweet talk to tell you how much fund they have in their account (mil), their long term plan, building long term relationship, strategies to gain profit and etc. All liars.

My initial intention was to deposit USD250 for trial (May 2016). Sean Adams (could be fake name) manage to persuade me to make further deposits, which sure enough, I lost most of it. Then he ask for more deposit to recover my fund. He even ask me to loan from friends, family and to call bank to increase credit limit. Hoping to recover, I did another deposit another 5k. He asked for 20k, which I don't have and thank God, I don't have it. Again he lost it all within a minute. Since the lost, he will ignore you. Also, the bonus, it's a trick to dilute your fund so that you could not withdraw. It's another tactic to attract people but actual fact, it's against us. While Sean Adams called me, I can hear him talking to another person (Rosie) which I think she has been scam too...feel bad for you too. This happened as he linked his PC to mine that I could still hear him.

Few days later, Ryan Webb called stating that he's from another dept which is very secure trade and he asked for another 20k. He keep emphasize that they are regulated (bulls***) and highly rating/secured trade (bulls***). Since then, I found FPA and true enough, they are scam. I did not further deposit and I'm putting in chargeback to recover my fund.
Richard Caldwell
Newcastle, Australia,
Jul 24, 2016,

Hello traders
Another bloody scam Option FM
Do not trade with them They will rip you off then won`t talk to you
They build you account by calling you and give you a few good trades then once they get your confidence they call you tell you to put a trade on and tell you it is protected that you will not lose your money Them bingo your trade loses they take your money and they won`t answer your skype or email I even tried to phone them and was blocked so if you have any dealing with them get your money out asap and if these bastards have scammed you send a report to the Action Fraud contact centre. You can talk to their fraud specialists by calling 0300 123 2040. www.actionfraud.police.uk.
My e.mail is akaroa59@yahoo.com.au
I would love to here from you if you have a similar experience
Regards Richard Caldwell
Perth, Australia,
Jun 13, 2016,

I have had a very, very bad experience with Option FM.

I started with an initial deposit of $250 in May 2016 and then a "Senior Account Manager" called Ray Galloway calls me on 6/6/16 and asks me to put an additional deposit of $2,250 in my trading account to qualify for a bonus and protected trade on the day for which I get a bonus of $1375.

Then on 8/6/16 he asks me to put in an additional amount of $2,000 to a trade in gold for me. When I ask him to use the existing amount in my account (as my balance in the account was then $3,875) he said that since the company was regulated he could not use any portion from that balance.

I then rashly against my wife's advise put in another $2,000 on which I had a win and received a bonus of $1,500 and my account balance went up to $7,375. I was promised by Ray to be called by him on 9/6/16 & 10/6/16 but he failed to call me on either of the days. He had said he would help me to withdraw some funds out, which did not happen as a result of this.

Then he calls me on 13/6/16 and sets up another winning trade for me this time by doing a deal in EUR/USD and USD/JPY, resulting in my account balance going up to $8,533.91. It was looking all too good for me, not knowing that disaster was round the corner.

On 14/6/16 I am called by a "Senior Analyst" of Option FM from a phone number in UK, who introduced himself as Mike Becker. He asked me to put in a trade in EUR/USD using the 30 second button. Then when the trade started without fore-warning he asks me to keep clicking the submit, approve buttons repeatedly and then in a minute's time my balance had dropped in front of my eyes from $8,533.91 to $433.91. Then Mike had the audacity to blame me for the loss because I did not click on the buttons fast enough. Then when I asked to speak to Ray, he came on the line and blamed me for trading with someone else rather than him.

Both of the were then trying to convince me to put an additional deposit of $2,250 so that Mike could do a correctional trade which he was promising would give me a return of $12,500 by this morning. After all this I would be just insane to wager any more of my hard earned money to fulfil the insatiable appetites of these unscrupulous brokers who have no ethics at all.

In conclusion, I would like to caution people from being drawn into making more deposits into your trading account at the insistence of brokers.
Beware of trading with brokers who all hand in gloves with each other and share the common interest of ultimately scamming you of your money.
If you are interested in Binary Options trading do your own research and do your own trading.
, New Zealand,
Apr 25, 2016,

I am a newbie to financial trading and through an automated robot offer I received I ended up with optionfm as my broker.
I deposited $250 and when the robot started to lose my money I withdrew what remained.
I received a call from an account manager who promised to fulfil all my "dreams"and tried to convince me to deposit $10500 to get the best signals.I deposited $2500.The first 3 trades he spent $1200 which lost.I immediately withdrew the balance leaving the bonus $750 in there as I found out I couldnt withdraw it.I had since read that it was a red flag if the broker traded a large amount at the start of my trading career.
The account manager rang me and got extremely angry when I wouldnt cancel the withdrawal.
Another "Senior Broker" rang me apologising and again promised I would make alot of money with him, very convincing.
I deposited $1200 he matched it again bonus money and wanted me to trade $900 of it. I traded $500 which lost.
I withdrew the balance which I received 5 working days later.
They are not Account managers just high pressure sales people trying to extract as much money as they can before you realise what they are up to.
I still have an interest in trading so now I am learning as much as I can to be able to trade myself.